Value for Money in Exclusivity
Practitioner Note 9 - Value for Money in Exclusivity is the last guidance document in a set of nine that form the Local Education Partnerships Toolkit.
Summary
This note focuses on guidance to help ensure the LEP continues to offer value for money beyond the initial procurement phase into the operational stage, as this is critical for the local authority's statutory obligations around public sector financial management.
This note discusses the key components that need to be assessed to demonstrate that a LEP is delivering value for money.
Key components of value for money assessments
The following components are key when completing a value for money assessment:
- Cost - is the cost appropriate and what was expected?
- Quality - what standards are being achieved?
- Time - is the pace of delivery as required?
- Volume - are the right number of projects being progressed?
These criteria should form the minimum of any value for money assessment to determine whether the LEP is delivering to the strategic objectives of all stakeholders.
Download Practitioner Note 9 - Value for Money in Exclusivity